Sports Nutrition Market Projected To Grow at a CAGR Of 9.00% From 2019 To 2024
Axiom Market Research & Consulting™
added a report on Global Sports Nutrition Market. The global
sports nutrition market was valued at USD 3.2 billion in 2017, growing at a
CAGR of 9.00% for the forecast period 2019 to 2024. The market was studied for
product types such as sports drinks, sport foods and sport supplements. Sports
drinks are further classified into isotonic, hypertonic and hypotonic drinks.
The major end users considered in the study are athletes, bodybuilders,
recreational users and lifestyle users. The most important distribution channel
considered in this market study were hypermarkets/supermarkets, convenience
stores, health stores and online channel. The major regions considered for the
study were North America, Europe, Asia-Pacific and Rest of the World.
Evolving fitness trend
and growing number of non-traditional users are driving the market
Consumers worldwide are
adopting healthy living and following fitness trends, especially across
developed markets where healthy lifestyle aspirations have become more common.
This is translating into an expanding consumer base for sports nutrition
products. Furthermore, rise in health clubs and need for adequate nutritional
content in food have nurtured the demand for the sports nutritional products.
However, the global sports nutrition market is hampered by availability of
cheap counterfeit products and food safety issues.
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Sports drinks dominated
the sports nutrition market
Amongst various product
types, the sports drinks dominated the sports nutrition market and its dominance
is expected to continue over the forecast period. Key factors driving the
growth of sports drinks in the global market are its ability to enhance
performance and endurance to do intense exercise and prolonged training. Also,
rising population of athletes, sportspersons, and increasing number of players
in developing countries are other factors boosting the growth for sports drink
in the global sports nutrition market.
Lifestyle users
projected to be the fastest growing segment over the forecast period
The lifestyle users are
expected to demand more during the forecast period due to rapid urbanization,
rise in disposable income along with growing awareness regarding health issues.
Hypermarkets/supermarkets
hold the largest share of distribution channels
In 2017,
hypermarket/supermarket segment dominated the market and is anticipated to
maintain its market hold over the next six years. This segment is witnessing
growth owing to rising consumer demand of various sports nutrition products
across different hypermarkets and supermarkets.
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